Reliance Industries' telecom arm will lease up to 45,000 mobile masts from Anil Ambani-led Reliance Communications in a deal valued at more than Rs 12,000 crore over the lifetime of the contract, the two groups announced today.
Hiring of phone towers will help accelerate fourth- generation (4G) broadband service by Reliance Jio Infocomm, a unit of elder brother Mukesh's RIL.
The second deal between the brothers in as many months will give an estimated Rs 800 crore per annum additional revenue to Anil's Reliance Communications assuming a 15 year tenure of the deal.
"Under the terms of the agreement, Reliance Jio Infocomm will utilise up to 45,000 ground and rooftop based towers across RCom's nationwide network for accelerated roll-out of its state-of-the-art 4G services," the two groups said in separate but identical statements.
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Reliance Jio Infocomm is the only company which in 2010 won a pan-India spectrum for 4G services but is yet to start commercial services.
The deal comes two months after the Ambani brothers had struck their first commercial deal when Mukesh agreed to hire Anil's optic fibre network for launch of his telecom venture. The pact was valued at Rs 1,200 crore.